Federal support for SFH adding a suite to their home... sounds familia – vancouver real estate

Federal support for SFH adding a suite to their home... sounds familiar

Homeowners can now refinance their current mortgage and construct a secondary suite, with borrowers able to access up to 90 per cent of the home's value, including the value of the extra suite. The borrower will be able to amortize the refinanced mortgage over a period of 30 years. More Info

This may sound familiar and it is. 

The provincial government of BC introduced the Secondary Suite Incentive Program. The program will offer forgivable loans of as much as 50% of the total cost of renovations, up to a maximum of $40,000, for successful applicants to add a secondary suite or accessory dwelling unit (garden suite, laneway house, carriage home, etc.) on the property of their primary residence. More Info